/NOT FOR DISSEMINATION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
TORONTO, July 23, 2013 /CNW/ - Polar Star Mining Corporation (TSX: PSR) (the "Company"), a Toronto-based company focused on copper and gold exploration and
mine development with operations in Chile, announced today that it has
completed the sale of 25,904,663 common shares for aggregate gross
proceeds of CDN $3,108,560 under the private placement. As announced on
June 7, 2013, each common share was priced at $0.12.
The private placement was completed in two tranches:
i) 20,326,664 common shares issued June 25, 2013 for gross proceeds
ii) 5,577,999 common shares issued July 23, 2013 for gross proceeds
Proceeds of the Private Placement will be used to finance exploration
and development programs and for general corporate purposes. The Common
Shares issued under the Private Placement are subject to a four month
hold period in Canada from their date of issue.
The Company has 191,905,664 Common Shares issued and outstanding
following the closing of the Private Placement.
About Polar Star Mining Corporation
Polar Star Mining Corporation ("PSR") is a TSX listed
exploration and development company with a focus on building
shareholder value in Chile. The Company's strategy is to use cash flow
from its Chépica mine (primarily copper and gold) to fund, in part, the
exploration programs at its flagship Montezuma property and to advance
its large portfolio of other world class projects in Chile through
joint ventures. For more information, please visit: www.polarstarmining.com
The statements made in this press release may contain forward-looking
statements that may involve a number of risks and uncertainties. Actual events or results could differ
materially from the Company's expectations and projections.
SOURCE: Polar Star Mining Corporation
For further information:
Chief Executive Officer
Polar Star Mining Corporation
Telephone: (416) 368-3496